CHICAGO, Sept. 24, 2021 /PRNewswire/ -- According to the new market research report "Sterilization Equipment Market by Product & Services (Instruments (Dry Heat), Services (Ethylene Oxide, Gamma, Steam), Consumables & Accessories (Sterilization Indicators), End User (Hospitals & Clinics, Pharmaceuticals) - Global Forecast to 2026", published by MarketsandMarkets™, the Sterilization Instruments Market is projected to reach USD 20.0 billion by 2026 from USD 13.8 million in 2021, at a CAGR of 7.7%.
The Sterilization Instruments Market growth is largely driven by the rising incidence of hospital-acquired infections, growing number of surgical procedures, increasing focus on food sterilization and disinfection, growth in the pharmaceutical and biotechnology industries, and the increasing outsourcing of sterilization services.
Sterilization Instruments segment accounted for the largest share of the global sterilization equipment market in 2020.
Based on product & service, the Sterilization Instruments Market is segmented into sterilization instruments, sterilization services, and sterilization consumables & accessories. Sterilization instruments form the largest and fastest-growing product segment in this market. The growth of this segment is primarily driven by the rising incidence of HAIs, increasing number of surgeries performed, stringent regulatory mandates for infection control, and the growth in the medical device and pharmaceutical industries.
By end user, the hospitals & clinics segment accounted for the largest market share in 2020.
Based on end user, the sterilization equipment market has been segmented into hospitals & clinics, medical device companies, food & beverage companies, pharmaceutical companies, and other end users. The hospitals & clinics segment accounted for the largest share of the Sterilization Instruments Market in 2020. The large share of this segment can be attributed to the increasing incidence of HAIs, the growing number of hospitals in Asian countries, the growing volume of surgical procedures performed, and the increasing government initiatives to curb HAIs
North America dominates the Sterilization Instruments Market
The global sterilization equipment market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America was the largest regional market for sterilization equipment. The growing demand for sterilization technologies from the healthcare industry to minimize the occurrence of HAIs, the increasing number of surgical procedures performed, and the presence of key players in the region are the major factors supporting the growth of the market in North America.
The major players in the sterilization equipment market are Steris plc (US), Getinge AB (Sweden), and 3M (US).
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